On September 1, MEITU rose 5.06% in regular trading, trading at HK$4.975/share, with turnover of HK$432 million. The stock extended its post-earnings rally as strong first-half results and favorable AI policy developments continued to underpin sentiment.

On the earnings front, MEITU reported H1 total revenue of RMB 2.21 billion, up 22.1% year-over-year, with adjusted net profit attributable to shareholders reaching RMB 650 million, a 39.5% increase and near the upper end of prior guidance. AI productivity application ARR reached approximately RMB 620 million, surging 47.8% year-over-year, while user AI computing credits consumption grew over 46% quarter-over-quarter in both Q1 and Q2, with cumulative half-year growth of roughly 113%. Management stated at the earnings call that the AI application layer is entering a critical window of opportunity.

On the policy side, the Ministry of Industry and Information Technology issued a notice on a special initiative to cultivate AI application service providers, aiming to build a resource pool exceeding 2,000 providers by year-end, boosting the broader HK-listed AI application sector. Multiple investment banks, including Citi, Goldman Sachs, UBS, and Morgan Stanley, maintain Buy ratings on MEITU, with target prices ranging from HK$7.0 to HK$12.3.

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